Corporate Governance

Technip continually improves its corporate governance practices. As part of this ongoing improvement, the Board of Directors has drawn up a charter defining the rights and duties of Board members, as well as a set of internal rules for the Board itself and for its committees.

In addition, at the end of 2008, Technip declared it was voluntarily referring to and applying the entire Afep / Medef corporate governance code for listed companies.

All Technip’s activities are governed by the Group Values and the six charters that explain them in more detail, particularly the Ethics charter.

A specific charter setting out the rules governing the behavior of Technip directors was put in place in April 2003 and was last updated in February 2013.

The Board of Directors determines the Company’s strategic directions and monitors their implementation. In making decisions, the Board takes into account the recommendations of its four specialized committees.

In accordance with its internal rules, the Board must evaluate its operating policies at intervals of no more than 3 years.

In this regard, the Board of Directors, with the assistance of an external consultant, carried out a comprehensive assessment 2011. The Board of Directors took note of the findings in the consultant’s report, which portrays a very positive assessment of the functioning of the Board of Directors with a collegial atmosphere of complete trust and transparency in relations with the Company’s senior management, as well as proposed recommendations in order to pursue improvements.

Nominations and Remunerations Committee

The Committee is made up of Gérard Hauser (Chairman), C. Maury Devine and John O’Leary.
The purpose of this committee is to make recommendations to the Board on the appointment of directors and to examine the policy regarding compensation of Executive Committee members and top management within the Group.

Strategic Committee

Members of the Committee are: Pascal Colombani (Chairman), Joseph Rinaldi (Vice Chairman), Olivier Appert, Manisha Girotra, Gérard Hauser and John O’Leary. The main role of this committee is to examine Technip’s overall strategy (strategic orientations, plans and budgets, investments, acquisitions and disposal of assets) as proposed by the Company’s Chairman and CEO.

Ethics and Governance Committee

Members of the Committee are: C. Maury Devine (Chairman), Olivier Appert, Joseph Rinaldi and Alexandra Bech Gjørv. The role of this committee is to promote best practices regarding governance and ethics within the Group.